November 1997

Pipeline Lawsuit Settled

By Mano Frey, Business Manager and Secretary Treasurer

Brothers & Sisters:

The last several months have been extremely productive in several different areas:

The Trustees have reached a tentative agreement with the plaintiffs in the pipeline hours lawsuit. We hope that the settlement will be finalized by both parties and the federal court by year-end. The details will be made available when the court accepts the final proposal, the details of which are being worked now. Basically, the settlement is comprised of three (3) main parts:

1) The Trust will adopt a five-year rule of parity retroactive to July 1, 1977. This provision should bridge the gap for those participants who continued their work as laborers but may have had a break in service immediately following the pipeline construction.

2) There will be a retirement benefit available to any participant who has at least ten (10) years of combined Alaska and reciprocal service without a break in service.

3) If you worked at least two hundred fifty (250) hours between July 1, 1974 to July 30, 1977 and you work at least two hundred fifty (250) hours in covered employment in Alaska or in a reciprocal plan before June 30, 2001, you will be eligible for a pro rata retirement benefit for covered hours worked in Alaska provided that you have a total of at least ten (10) years of credited service in the Alaska Pension Fund or the reciprocal fund.

The main part of the tentative agreement is that there will be NO lump sum settlement to plaintiffs and there will still be a ten (10) year vesting requirement in order to recover pipeline credits.

Since this proposed agreement has not NOT been finalized, there will not be any information available about individual situations after the first of the year.

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